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SHFE Aluminum to See Range-Bound Trading (2016-9-2)
Sep 2, 2016 09:25Source:SMM
SHFE 1610 aluminum will struggle around the 5-day moving average due to strong market caution, with prices expected at RMB 12,100-12,250/mt.
SHANGHAI, Sep. 2 (SMM) –SHFE 1610 aluminum will struggle around the 5-day moving average due to strong market caution, with prices expected at RMB 12,100-12,250/mt.
Crude oil prices will remain weak. Market caution before release of US non-farm payrolls will keep LME aluminum in check at USD 1,600-1,625/mt.
In east China’s spot aluminum market, spot premiums of RMB 140-180/mt are expected over SHFE 1609 aluminum contract.
Key Macroeconomic Indicators for Base Metal Prices (2016-9-2)
SHFE aluminum prices
aluminum prices
Al price
base metal price forecast
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